Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CDA to get boost from auction of plots
03-22-2013, 08:39 PM
Post: #1
CDA to get boost from auction of plots
Islamabad



The staggering financial condition of the Capital Development Authority (CDA) would get a big boost if the civic body succeeds in receiving the desired money from the forthcoming grand auction of commercial and residential plots in the metropolis.



The CDA management besides offering other plots for auction has been successful in including a large commercial plot in Sector F-5/1. The plot, measuring 3.75 acres, is meant for the construction of a five-star hotel. For many reasons, the plot was not offered for auction in the past.



The CDA auctioned two big plots for seven-star hotels about eight years ago and the two fetched around Rs10 billion for the CDA. One of the sold out plots is located along Jinnah Avenue where ‘The Centaurus’ shopping mall has been completed, while construction of three other high-rise towers, having residential and office apartments and a seven-star hotel, is in progress. The other plot was auctioned adjacent to the Jinnah Convention Centre where a five-star hotel is being built.



A senior official of the CDA, however, fears efforts to foil successful auction of this plot in Sector F-5/1 due to some vested interests.



Four other large commercial plots, which are being offered for sale, measuring 1333 square yards, are also located in Blue Area.



Another salient feature of the bidding activity to be carried out in the last week of the current month, would be auctioning eleven plots in Markaz I-12. These plots are meant for construction of 15-storey luxury apartments.



A CDA official told ‘The News’ that in view of boom in property in Islamabad, it is the best time to offer residential plots for open auction. As many as 20 residential plots of 12 marlas are being offered in Sector G-10/2, while other plots to be auctioned are located in sectors G-11 and D-12.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  CPEC will Qualify Pakistan to Boost trade with European countries LRE-Azan 0 1,792 11-01-2017 02:10 PM
Last Post: LRE-Azan
  CDA Collected Rs6 billion from Plots Auction Salman 0 2,908 04-24-2015 03:11 PM
Last Post: Salman
  CDA finalises arrangements for auction of commercial plots Salman 0 3,237 03-26-2014 06:36 PM
Last Post: Salman
  CDA’s commercial plots auction from April 2nd Salman 0 3,152 03-22-2014 06:07 PM
Last Post: Salman
  Islamabad CDA to auction commercial plots from next month Salman 0 3,392 03-17-2014 01:30 PM
Last Post: Salman
  CDA changes building parameters to make auction of plots success Salman 0 2,750 02-28-2014 01:38 PM
Last Post: Salman
  Foreign investment to boost economy, generate employment; PM Salman 0 2,259 02-11-2014 12:22 PM
Last Post: Salman
  CDA earns Rs8b from auction of commercial plots Salman 0 4,637 11-25-2013 01:26 PM
Last Post: Salman
  CDA to ensure hassle-free process for auction of plots Salman 0 4,845 11-18-2013 12:22 PM
Last Post: Salman
  CDA to hold three-day auction of 56 commercial plots Salman 0 11,195 11-06-2013 02:58 PM
Last Post: Salman
  CDA to auction commercial plots in November Salman 0 10,541 10-31-2013 02:31 PM
Last Post: Salman
  CDA to auction 40 commercial plots in November Salman 0 7,538 10-14-2013 04:28 PM
Last Post: Salman
  CDA to hold auction of commercial plots Salman 0 10,261 10-10-2013 01:42 PM
Last Post: Salman
  LDA To Auction Commercial Plots On 10th October 2013 Salman 0 7,021 09-27-2013 04:03 PM
Last Post: Salman
  LDA to auction four plots for new bank square Salman 0 6,469 09-09-2013 01:39 PM
Last Post: Salman
  LDA to Auction 50 commercial plots on 24th September 2013 Salman 0 8,437 09-04-2013 08:37 PM
Last Post: Salman
  CDA to get Rs4.6 billion from auction of commercial plots Salman 0 5,017 07-18-2013 10:57 AM
Last Post: Salman
  CDA to auction commercial plots Salman 0 5,079 06-26-2013 11:56 AM
Last Post: Salman
  CDA to auction 52 commercial plots in I-12 Markaz Salman 0 4,642 06-11-2013 02:32 PM
Last Post: Salman
  Plan finalised for commercial plots auction in I-12 Salman 0 4,336 06-10-2013 12:27 PM
Last Post: Salman

Forum Jump:


User(s) browsing this thread: 1 Guest(s)